Quote from: stadus on January 11, 2025, 07:52:21 AM

Binance has been dominating the space for years, maintaining and even improving its reputation and system. One of its strengths is the Binance Coin (BNB), which is closely tied to their exchange. If BNB collapses, the exchange could follow. However, since BNB is increasing in value, it reflects positively on the exchange's performance.

Binance has truly been tested over time. They’ve faced a major hack before but managed to recover smoothly, thanks to their SAFU funds, which helped them address the issue. More recently, they dealt with regulatory problems but settled them by paying penalties. Other exchanges haven’t faced such challenges and may not survive them. Binance, on the other hand, has proven it can withstand and emerge stronger from tough situations, which is why it continues to gain trust in the industry.

I completely agree with your assessment of Binance's strengths and resilience. Their ability to recover from the hack and navigate regulatory challenges is a testament to their robust systems and commitment to security. BNB is indeed a key factor in their success, and its increasing value reflects positively on the exchange's performance. However, it's also worth noting that other exchanges, such as Bitget, are making significant strides in the industry. Not only are they one of the most downloaded apps in December, but it also ranks among the top three derivative exchanges, demonstrating its growing influence in the market. Its recent partnership with LALIGA and innovative products like pre market trading are also worth keeping an eye on. As the market continues to evolve, it will be interesting to see how different exchanges navigate the challenges and opportunities ahead.

https://www.coingecko.com/en/exchanges/derivatives